The Income Tax Department conducted raid at our registered office premises that began on 14/05/2025 and ended on 17/05/2025
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The Income Tax Department conducted a search at Gujarat Credit Corporation's registered office in Ahmedabad from 14/05/2025 to 17/05/2025. The company stated it fully cooperated with officials and provided all clarifications and details sought. Business operations were halted during the search period, which concluded at 11:30 pm on 17/05/2025. The company has committed to updating the exchange with any further developments on the matter.
While the company has not disclosed the outcome or any financial impact, the fact that business operations were halted for nearly four days and an income tax search was conducted raises uncertainty. Shareholders should watch for further updates, as tax searches can sometimes lead to reassessments, penalties, or demands depending on findings.